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Cashin In

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Us 11, Eu 4, America 4, U.s. 4, Eric 3, France 3, Wayne 2, United States 2, Obama 2, Facebook Justin Bieber 1, Sullivan 1, Clinton 1, Martha 1, Akamai 1, Becha 1, Tom Sullivan 1, John Carey 1, Snowden 1, Andrea Merkle 1, Eric Boling 1,
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  FOX Business    Cashin In    News/Business. A practical  
   look at money management. (CC)  

    July 7, 2013
    2:30 - 3:01am EDT  

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the worst is they are volatile in the stock market. they will get hit hard. >> two votes thumbs up for akamai. that's it for us. have a great weekend. eric boling is next. >> iceberg, right ahead. obamacare ahead. businesses have been warning that the health care laws will sink jobs like the titanic. did the white house just admit that the job creators are right and why a major about face from the administration is reigniting calls to fix this law for good? plus is a new nsa bombshell about to backfire on america's econy? the journalists telling me that the world will be shocked , shocked by the next shoe to drop. cashing in is startin right now. hi, everybody. welcome to "cashin in."
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thanks, everyone. welcome, everyone. they say timing is everything. what better time than for the white house to descrop the news that it is putting off a major deadline on the health care law penalties and what better time to push the deadline until after the mid-term elections next year. monica, you say timing, there is no secret about the timing. >> no, it is not a coincidence. this is dropping faster than the titanic. they understand, the white house understands that you have tough democrats who wrote this monstrosity. they are saying this is a train wreck and it is so complex as to be incomprehensible. they know this thing is unworkable and now they are hearing from businesses. this is s what we have been talking about for four plus years w. businesses are cutting hours. they are laying off workers. there are higher taxes coming and higher premiums in place. none of this is ready to go. the state exchanges aren't ready to go. all of this is collapsing
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underneath its own weight and absurd tee. and so they realize they will put off the real horrors and they will decide to put it on when? until after the d-term election. >>e will get to the politics in a minute. jonathon, stay on the business end of it. is it bad for people and businesses with more than 50 employees? maybe it is bad for businesses with under 50. maybe it is bad for regular americans as well. >> eric, it is bad for businesses and it is terrible for workers. it is warning about the affects and that's her workers. regal entertainment and tons of companies who have already cut hours or cut employees and the recent survey showed 41% of small businesses said they are having a hiring freeze altother. this has helped one, but power hungry hole tigses in dc and it is failing by design. it is centralized planning and
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it is no wonder that it is a train wreck. >> right. and you don't seem surprised. >> no, i don't. i don't know why eerybody is saying that all of a sudden all of this -- we knew this. this is old news, guys. we knew this was a dumb idea. we knew it from the start. you have 2,200 pages of garbage. it stacks up to being over eight feet high. there are 20,000 pages of regulations. you know this was a dumb law to start with. it never should have been passed. for it to go past the supreme court which is shear idiocy, that john roberts had to write an opinion that called it attacks because he couldn't figure out any other way to get it through, the whole thing is a bad idea. they should start all over. >> wayne -- not wayne, but christian, they say we need time, businesses need time to kind of get their books in ready on. books in order. are you kidding me? they have it mandated and they
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pushed it through the supreme court. now they have more time? >> first of all a little perspective here. this so-called employer mandate applies to fewer than 1% of the firms collectively employ about a million people. this is not about the impact on all of the businesses. this is about a small sliver who have been complaining since day one about the regulatory burden of compliance and the administration has said, you know what, we will make it simpler. we will yieldo you yet again because you complain yet again. this doesn't speak to the broader issue of health carrie form or business- care reform or businesses in general. >> it actually speaks a tremendous unfairness. the president always talks out fairness. once again you have obama's animal farm where certain favorite constituencies get one treatment and in this case, indivials see it rise 300% as a result of sew bough ma care and get the shaft.
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minorities have rights too, you know. >> you want to jump in on this? >> i want to add to jonathon's point that congress trd to exempt itself and when word got out all hell broke loose. now they are subjected to obamacare too. they pushed it through on an i'd logical agenda. part of the reason was we need to do this fast because it will save lives. they had three years to implement this thing since the passage of the bill. none is ready. the ultimate objective is to get everybody off private health insurance and individual health insurance and into a single payer system. that's why we are seeing the collapse of all of this. it is all by design. >> the timing of this sounds so political to me. we are going to wait until 2015. what happens in 2014? mid-term elections. what are the democrats afraid of? running against republicans. the republicans remind everybody that this sinking
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titanic obamacare was their idea. >> i agree with you about the motives. i don't agree with you about the overall assessment. i think you are absolutely right, eric. obama doesn't want this to be a referendum on health care reform in the mid-term elections. he doesn't want to see ads talking about the 2 one-pages of regulatory questionnaires that businesses have to fill out. he wants to take that off the table. this is purely about politics. it has nothing to do with economics. i agree with you on that. >> if it is so bad to run in a mid-term election, maybe it is just not a good idea in general. >> it is not a go idea, eric. that's what i said we know that. it has been picked over. we have had throw years of this. we have had three years of this. it was picked over in the first place. we know that. we know there are allf these regulations that cannot be complied with and counter to each other andt costs money. we know even the most bronzed plan they talk about, the cheapest plan will cost a
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person $5,000. then you go and ultimately the platinum plans that are even more outrageous in costs, there is no way that this law makes any sense on any level. they have to erase it and start over. >> and to christian's point, it is not just the administration running from its own signature health care bill. it is doctors running from the practice of medicine. 83% of doctors say they are considering leaving the practice of medicine. you can keep your health care, but there will be far fewer people to administer it under obamacare. >> jonathon, you are right. there are some who already left. if you read some of the people , they said i'mleaving. >> monica, i want to ask you this. last week we talked about young people. young people may opt to take the penalty because the penalty is cheaper than going on obamacare. if they don't get young people signed up it will go down faster than the titanic. >> and t irs is the agency
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enforcing the individual mandate which as far as we know still stands. you are absolutely right about the economics of this. you need masses of ung people participating in obamacare in order to make the whole thing work. they are saying, number one, i will go without health insurance or number two i will take the hit on the fine and forget it. then the whole thing implodes. >> i might have a couple of seconds -- hold on. >> i think i have the solution to all of this. >> go ahead. >> i think you would agree with me. to make it less complex, less difficult for people to understand why don't we have a single payer system that is efficient, fair and universal. >> there you go. that's the objective, right? that's the ultimate goal. >> at least we know what they want. th want government to administer all of your health care and make all of your decisions. we'll have to leave you there. coming up, the french are crying over this nsa spy scandal. should we care and is there more fallout to come? >> there are vast programs of
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both domestic and
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the president of france demanding the u.s. stop spying on allies in the eu and he even said he could delay trade talks with america costing hundreds of millions of dollars. the person who broke this sthooping storytelling me we haven't heard anything yet. listen. >> there are vast programs of
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both domest and international spying that the world would be shocked to learn about. >> monica, are trade partners shocked that there is more to come? do you bieve the eu has leverage to say we will st the trade talks. >> let's be clear. nobody is shocked that anybody is spying on anybody and certainly not the united states. friends spy on friends. allies spy on allies. we are certainly spying on our enemies. this is the way the world has worked since spying technology -- you said since get smart. none of this is a surprise. all of this huffing and puffing from the eu and the socialists in france, this is all nonsense. this is because their pride is hurt because after the snowden revelations it became public. they figure they have to huff and puff and attempt to try to do something to penalize the u.s. in the short-term it might actually hurt us a little bit, but not ov the long-term. they need us more than we need them. >> the eu has problems of their own. i am guessing they want to do trade with us and they want
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more trade with us. >> you becha. they want it. they need it. they have to have it. look at the pigs. look at portugal, spain, italy, greece, they have disasterous economies. they need this much more than anything else. agree. this is all nonsense and puffery. it would be more exciting if we learned that andrea merkle was having an affair with john carey. >> oh my god, what? >> that's the same level of this kind of thing. this will go away fast. it will not ierrupt any of the discussions. any of the discussions going forward. the eu wants it. we want it. it will work. >> why would they try and rattle the cage here? what is the end game? >> if they boycott us it is to their own detriment. trade helps everyone involved and to the extent the eu cuts it off, i think theyre shooting themselves in the the united states is still the most prosperous, the mt individualistic and the most capitalistic country on earth.
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it does hurt us in terms of our reputation on the world stage. o -- we have lost the bailouts and our reputations as the world's defender. we don't need trade talks. we need to practice what we prch, protection of free trade and protection of dividual rights. >> do you agree? protection of fr trade. >> the way this international game works is all of your spying needs to be kept in secret. once it becomes public, then it becomes an issue and it forces the people who are spied upon to thump their chest and say this is an outrage. but really, this is ing to have no impact on the trade negotiations. there may be some nominal delay of a few weeks, but ultimately the u.s. and europe, our economies are integrally linked and there is no way there will be any diminishing of cooperation between the two areas. >> we only have a minute. let's bring it around the circle. let's start with wae in the upper left corner. do we think other people
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aren't spying on us, wayne? >> no, no. we know other people are spying on us. we know that. everybody knows that. that's just under the surface. you can tay -- talks are going on and it will work. >> any surprise that they are spying on us too? >> if they are i wish we were more forright on what we support. if the u.s. was more transparent in its advocacy for the principals we supposedly stand up for, i think it is to no avail. >> christian? >> you know, everybody spies. it is wh everybody does. no one is shocked or outraged. least of all the president of france who has s own intelligence operation. this is purely posturing. >> 99 -- i mean martha. >> i will take 99. she was cute. she was fierce. no, i mean, come on. this is feaux outrage and being indignant on the part of the europeans. come oeverybody is spying on erybody.
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>> we'll leave it there. you probably won't like this. the government is trying to buy ur love on facebook with $600,000 of your money.
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well, wait until you hear about this. the state department spending our tax dollars and trying to get more people to like its facebook page. i'm guessing there are 630,000 reasons whyayne does not like that beg a buck for each one of them. >> you're right. it is outrageous.
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another budget blunder. they have too much money and too many people. you have to take the whole thing away from them. it is awful. they spent $630,000 on facebook stuff to promote it. it is crazy. >> let's keep in mind whose state department this was when this was happen expght money was being burned. hillary clinton. somehow hillary gets a pass on all of this? i don't think so. i ink they had to do this. who voluntarily was going to say i am liking now on facebook justin bieber and oh i like the state department too. they are super awesome. nobody would do that. >> i have to admit, i am on facebook all the time. i didn't even know i could buy likes. >> to what affect? >> it will make me feel good if i get more likes. >> it is just trying to apiece the muslim streak for the last 10 years hasn't done anything to make america safer. i don't think getting likes on
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facebook witthe on-line world will do anything to increase america's prestige. we don't want to be liked. we want to be respected. what is needed is a better marketing campaign with some leadership and demonstration of american principals throughout the world. >> kristen, is there anyway in the world you can justify spending $630,000 to get people to like the state department facebook page. is there anything? >> there is a way to justify it. that's if that creates a community of people who are engaged and following the information that comes out from the state department. now the point othe report is it didn't work. in that case it wasn't money well spent. if had created then gaged communy it would have been a huge bargain. so the issue was not the money. the issue was it didn't work. that's what i want to focus on. >> let me push back. what in the world does the state department want them to like people on -- first of all they have a web page. they can put out all of the information. help me out here. >> these are websites that are in native languages of countries that we have
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problems with people who actually -- >> so they ar not even american facebook, english speaking facebook users who are spending $600,000 to watch, to like us? >> that's right. you want to create movement in other countries where we have esh yous with people -- we have issues with people who may respect and like americ >> but that's the whole thing. you can't buy respect. you can't buy it in the real world. you can't buy it on facebook. just because somebody clicks like, it doesn't mean that hillary clinton would have you believe they advocate and understa the principals they are projecting. we may talk a good game on facebook, but i don't think we practice the principals in our advocacy around the world. >> and you are so right about the respect part. we don't want to be liked in the world. we want to be respected. but i would add one other thing, w need to be feared
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and yes i said feared and under president obama we are neither respected nor feared. >> the tours are clod to kids who what president to go and learn about what goes on in dc. they want to see the white house. they are closed because of sequestration. now we will spend $630,000 on sequestration. would you rather have white house tours open or more people liking the state department? >> obviously white house tours open but the whole sequestration thing was a myth. the president said everything is shutting down and we will have sequestration and everything will be cut back and nothing and going to work and nothing. nothing. we haven't experienced anything. it is just crazy. and this idea of spending $630,000 is out the door. they might as well be giving it away. it is so ridiculs the whole thing. you have to stop it. >> it is so ridiculous that it has to be true. that's how crazy it is. i like all of you guys. we will say thank you to
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monica and christian for joining us this week. >> pleasure. >> coming up, what is happening in egypt over there could impact us here. i used to dread getting up and going to work.
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go ahead. >> i like ford motor company. i talked about it about a year ago and it is up 40% since then. i think that is a terrific return and i still lining it. i think -- i still like it. it is great for the automobile industry. >> go ahead. >> in the last five years egypt's stock market is down. how much worse can the news get. i own it on my fund and now is a od ti for an initial position. >> thanks for joining us on the cost of freedom block. before we go, one of my blog sites asks the twitter followers to sum uthe delay in three words. here are a few of my favorites, rushed, mandated delayed, not so fast, big freaking delay, not thought through, this is embarrassing and my own
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submission, another obama bail. goodbye, everybody. she has we celebrate our nation's birthday i want to share with you my favorite interviews so far this year, right here, right now. >> from fox business headquarters in new york city it is the tom sullivan show. here is your host, tom sullivan. >> thanks for joining us. the top of this that, government service started as a naval aviator than as a congressman, he ran the office of economic opportunity, he was ambassador to nato, white house chief of staff, served twice as defense secretary. if there is somneore experienced in holding office in washingt i'm not sure who that would be. here's my interview with the